I've heard/read that silicone is the stuff in Armor All, and it
actually
dries the rubber out. Somehow it pulls the oils to the surface,
making the
rubber look great, but over time you lose all the oils.

I'd never use Armor All. It makes surfaces sticky and when it seeps
into small cracks and crevices, especially in modern cars with more
plastic, it will cause creaks and noises from plastic parts rubbing
against each other.